Canada-based Guyanese businessman, Bhaktraj Singh is one of a number of mortgage brokers who have come under investigation in Ontario for syndicated mortgages that have left small investors with huge losses and questions being asked about what the regulator has been doing.
According to a November 8, 2017 Globe & Mail report, Singh’s Tier 1 group of companies is under investigation by the Ontario Provincial Police (OPP) over fraud allegations involving the use of syndicated mortgage investment funds.
“The mortgage pools raised Cdn$119 million from 1500 investors to fund a development group planning to build condominiums and student residences,” the Globe & Mail’s report stated.
